DirecTV: Difference between revisions

On April 9, 2003, News Corporation, the then-parent company of [[20th Century Fox]] (now known as [[20th Century Studios]]) and [[Fox Television Studios]], agreed to purchase a 34% controlling interest in [[Hughes Network Systems|Hughes]], including GM's entire share of the company, for $6.6&nbsp;billion, subject to SEC approval.<ref name=newscorp>{{cite news|url=http://business.timesonline.co.uk/tol/business/article1128673.ece|author=Nic Hopkins|title=News Corp buys control of DirecTV|newspaper=The Times|date=April 10, 2003|location=London}}</ref> The FCC voted 3–2 along party lines on December 19, 2003, to approve the deal subject to conditions, forcing News Corp. to agree to [[arbitration]] for all disputes with carriers of its media broadcasters, and to provide content through DirecTV neutrally rather than favoring its own networks.<ref>{{cite news|url=https://www.nbcnews.com/id/3763546 |title=FCC OKs News Corp. purchase of DirecTV|newspaper=MSNBC|date=December 19, 2004}}</ref>

 

 

In January 31, 2005, Hughes announced its intent to focus solely on its satellite television operations and divest its other interests, renaming itself The DirecTV Group, Inc. on March 16, 2005, and changing its ticker symbol from "HS" to "DTV".<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/944868/000119312505038986/d10k.htm |title=2004 Form 10-K, The DirecTV Group |publisher=U.S. Securities and Exchange Commission |date=March 17, 2005 }}</ref> In April of that year, it sold its controlling interest in PanAmSat to a private consortium led by [[Kohlberg Kravis Roberts]] for $3.53&nbsp;billion.<ref>{{cite news|url=https://articles.latimes.com/2005/apr/21/business/fi-panamsat21 |title=DirecTV Agrees to Sale of PanAmSat Unit |newspaper=L.A. Times |date=April 24, 2005 }}</ref> On April 22, 2006, DirecTV spun off Hughes Network Systems into a separate entity and sold 50% of the new entity to [[SkyTerra]], acquiring $157.4&nbsp;million in the transaction.<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/944868/000104746906003209/a2168249z10-k.htm |title=2005 Form 10-K, The DirecTV Group, Inc. |publisher=U.S. Securities and Exchange Commission |date=March 10, 2007 }}</ref> In January 2006, DirecTV sold its remaining 50% share in Hughes Network Systems to SkyTerra for $100&nbsp;million.<ref>{{cite web |url=http://www.hughes.com/HNS%20Library%20Press%20Release/01-03-06_SkyTerra_acquires_remaining_interest_in_HNS_LLC_from_DirecTV.htm |title=SkyTerra Communications Acquires Remaining Interest in Hughes Network Systems LLC from The DirecTV Group |date=January 3, 2006 |publisher=SkyTerra Communications, Inc. |access-date=October 19, 2011 |archive-url=https://web.archive.org/web/20110215180606/http://www.hughes.com/HNS%20Library%20Press%20Release/01-03-06_SkyTerra_acquires_remaining_interest_in_HNS_LLC_from_DIRECTV.htm |archive-date=February 15, 2011 |url-status=dead }}</ref>